NEWS Sales and profits fall at Cosmo
Indian film manufacturer Cosmo First has reported a dip in sales and profits in its latest half-year results. Sales for the first half of the year fell
more than 18% to around INR13 billion (US$156 million). At the same time, pre-tax profit slumped by around 80% to INR440m (around US$5m). Sales for the second quarter fell by around 15% compared to Q2 in the previous year. Cosmo described the results as
“improved” – as they exceed sales from Q1 of this year. This, it said, was
due to enhanced BOPP film margins. In the near-to-medium term, BOPP and especially BOPET margins are expected to remain subdued, it said. “In the short-term we remain focussed on increasing speciality sales,” said Pankaj Poddar, CEO of Cosmo First. “In the medium term, drivers including speciality BOPET films, sun shield film and rigid packag- ing will result in profitability enhance- ment and margin stabilisation.” The company has also launched an injection moulding and thermoform-
ing division called Cosmo Plastech to make thin-wall containers for the food and beverage industry. It will offer a range of packaging solutions for FMCG products. Sanjay Chincholikar, business head for technical films and rigid packag- ing, said: “Our containers ensure durability, reliability, and moisture resistance, setting an innovative benchmark. Cosmo Plastech reflects our commitment to excellence in sustainable packaging.” �
www.cosmofirst.com
Oben adds BOPA film capacity
Oben has expanded its BOPA film business in the US.
It will end its strategic alliance with AdvanSix that has been in place since 2019.
Above: Masterpress says it will expand shrink sleeve production by around 40%
Masterpress expands capacity of printed packaging by 40%
Poland-based Masterpress has expanded its produc- tion capability for printed packaging.
It has added around 16 million sq m of capacity per year and installed two new sleeve printing machines, which will expand produc- tion by nearly 40%. The investment comes in response to actual and anticipated growth in European customer de- mand, especially in France,
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Germany, Austria, Switzer- land and Benelux. The two new 12-station and 14-station hybrid printing machines can handle a variety of materials and varnishes in a single printing cycle, enabling UV flexo printing, embossed and Braille printing and web perforation. This expands the range of effects it can offer.
In addition, the new machines increase its ability
FILM & SHEET EXTRUSION | December 2023
to offer more environmen- tally friendly sleeve printing solutions – incorporating features such as energy- efficient UV LED drying and the ability to print on films as thin as 12 microns. “By investing in our capacity and people, we are focused on our long-term vision of organic growth,” said Jeroen de Haan, general manager of Masterpress. �
www.masterpress.com
Under the agreement,
Oben produced BOPA film and AdvanSix managed its commercialisation and distribution in the US and Canada.
AdvanSix will now exit the alliance in 2025 and transfer its commercial and distribution responsibilities for BOPA film to Oben. It will continue to be a key resin supplier to Oben. Oben has now become
the direct provider of nylon films, including the Capran and Oxyshield brand names. Its portfolio also includes BOPP, BOPET, BOPE, CPP and thermofor- med products. �
www.obengroup.com
www.filmandsheet.com
IMAGE: MASTERPRESS
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